The Federal Reserve Bank of New York has informed MF Global Inc. that it has been suspended from conducting new business with the New York Fed. This suspension will continue until MF Global establishes, to the satisfaction of the New York Fed, that MF Global is fully capable of discharging the responsibilities set out in the New York Fed’s policy, “Administration of Relationships with Primary Dealers,” or until the New York Fed decides to terminate MF Global’s status as a primary dealer.

Jon Corzine, the former New Jersey governor who now leads MF Global, was working to find a buyer, according to several reports. The Journal said Interactive Brokers would bid $1 billion under a court-supervised auction.

…The New York Stock Exchange halted trading in MF Global shares before the market opened Monday.

Jon-Boy Corzine certainly has the resume now to be Treasury Secretary.

Why the latest eurozone bail-out is destined to fail within weeks
I want last week’s European bail-out to work. My sincere hope is that collective and decisive action by the eurozone’s large member states will stabilize global markets, at least for a while, so allowing the global economy to catch its breath.

…So, yes, I want such turbulence, which will never be fully-eradicated, nor should it be in a free-market system, to now lessen to more manageable levels. Yet the responses of our politicians to recent financial troubles – hiding behind complexity and kicking the can down the road – have not only failed to temper the volatility, but have actually made it much worse.

Last week’s eurozone “agreement”, for all the related fanfare, was a case in point. Far from making the situation clearer, allowing investors to make considered assessments, this latest announcement made Western Europe’s grotesque debt crisis even more acute, sowing further infectious spores of confusion.

The National Weather Service in Mobile has issued a frost
advisory… which is in effect from 5 am to 8 am CDT Monday.

* Event… frost will form as temperatures fall into the mid 30s as
far south as the central portions of the coastal counties. Frost is
not expected south of the central portion of the coastal counties
of Alabama or the northwest Florida Panhandle.

* Timing… 5 to 8 am CDT Monday morning.

* Impact… once the frost forms… it will be patchy near the ground
potentially damaging tender and sensitive vegetation. Precautions
must be taken to protect these.

Precautionary/preparedness actions…

A frost advisory means that frost is possible. Sensitive outdoor
plants may be killed or suffer frost burn
if left uncovered.

We’ve already dumped four bags of leaves into and over Mort’s hidey hole behind the gardenia.

PROVIDENCE, R.I. — Anti-Wall Street protesters around the country who are vowing to stand their ground against the police and politicians are also digging in against a different kind of adversary: cold weather.

With the temperature dropping, they are stockpiling donated coats, blankets and scarves, trying to secure cots and military-grade tents, and getting survival tips from the homeless people who have joined their encampments.

“Everyone’s been calling it our Valley Forge moment,” said Michael McCarthy, a former Navy medic in Providence. “Everybody thought that George Washington couldn’t possibly survive in the Northeast.”

In a statement today, Pensacola Mayor Ashton Hayward informed members of the Occupy Pensacola group that the “tent cities” that have been erected in Martin Luther King, Jr, Plaza would no longer be allowed.

Citing an existing city ordinance (Sec. 8-1-7)* prohibiting the construction of enclosures on city property, Hayward informed the Occupy Pensacola members that upon their move to the City Hall courtyard, or 5pm on Friday, tents or other outdoor structures would not be allowed.

Hayward stated that he did not support the protesters’ political sentiments, but that he and city staff had worked hard to be respectful of the protesters’ First Amendment rights. However, the establishment of overnight structures violated city ordinances and posed a public safety problem.

“I’ve tried, and continue to try, to be respectful of the First Amendment rights of the Occupy Pensacola group, by granting them extended permission to congregate on City property, and by providing sanitation services for the health and public safety of the entire downtown area. However, the current – and growing – number of tents and other structures are unacceptable. I am happy to provide the group with an extended presence here at the City Hall courtyard, which they have agreed to. But at this point, for the safety of everyone and the respect of downtown businesses and residents, we are going to start enforcing this ordinance as of 5pm Friday.”

The ordinance falls under the code enforcement section of the City’s codes and ordinances, and any violation would result in a misdemeanor code enforcement violation (a non-criminal offense), and a request to appear before the code enforcement magistrate. Hayward said he did not want to interfere with the group’s right to peaceably assemble, but that the growing presence of tents, makeshift awnings, and tarps tied to trees was unacceptable.

“I hope the Occupy Pensacola folks understand this and will continue to work with the City to ensure the health, safety, and rights of all involved,” concluded Hayward.

I hope weepy, surly Occupiers don’t scare the little Trick-or-Treaters downtown this evening as they snatch up their belongings and rail against the unfairness of “The Man”.

…But the City Council’s message to Hayward last night was not so fast.

…After lengthy debate, the council voted 5-4 to ask the mayor to temporarily suspend the ordinance for two weeks to give the City Council time to determine what should be allowable on city property in the long term.

“If we say you can come here to City Hall, but you have to sleep on the ground without shelter, that may present more of a health problem having people exposed to the elements,” said Myers, who made the motion to temporarily allow the tents.

In all the Richard Epstein excitement, I forgot to post it. The back story is, this piece of paper floated out of a stockbroker’s window in Chicago yesterday, and wafted down to the Occupy types. I’ll give you a taste to whet your “Why should I click through?” appetite:

…We aren’t dinosaurs. We are smarter and more vicious than that, and we are going to survive. The question is, now that Obama and his administration is making Joe Mainstreet our food supply…will he?…and will they?

WARSAW, Poland (AP) — A Polish World War II airman, believed to be the last surviving Polish pilot from the Battle of Britain, has died at the age of 97 in a Canadian nursing home.

Turner and Porter Funeral Directors said on its website that Brig. Gen. Tadeusz Sawicz died Oct. 19 at a nursing home in Toronto, Canada.

Poland’s Gazeta Wyborcza daily reported Wednesday that Sawicz was the last surviving pilot among the Poles who served in Polish Air Forces in Britain during World War II. He fought in the 1940 battle and served with the air force until early 1947.

In a dark blue jacket reflecting the mood in and about the eurozone, Merkel abandoned her usual cautious rhetoric warned outright of a war.

“Nobody should take for granted another 50 years of peace and prosperity in Europe. They are not for granted. That’s why I say: If the euro fails, Europe fails,” Merkel said, followed by a long applause from all political groups.

“We have a historical obligation: To protect by all means Europe’s unification process begun by our forefathers after centuries of hatred and blood spill. None of us can foresee what the consequences would be if we were to fail.”

We taught them a lesson in 1918
And they’ve hardly bothered us since then…

…and then getting all pissed off about the religious stuff all over campus. Especially some of the stuff you might not have noticed when you toured the campus prior to accepting a spot as a student. You know. The stuff that just sort of LOOMS ON THE HORIZON SO LARGE, it completely blends into the background, like a, oh…say…cathedral.

…Banzhaf said some Muslim students were particularly offended because they had to meditate in the school’s chapels “and at the cathedral that looms over the entire campus – the Basilica of the National Shrine of the Immaculate Conception.”

Additionally, poor old “malice and forethought” have picked up a little different slant than when I used to watch Perry Mason.

…“It may not be illegal, but it suggests they are acting improperly and probably with malice,” he said. “They do have to pray five times a day, they have to look around for empty classrooms and to be sitting there trying to do Muslim prayers with a big cross looking down or a picture of Jesus or a picture of the Pope is not very conductive to their religion.”

Muslim students who just happen to CHOOSE to attend a…wait for it…CATHOLIC University.

(I’m confused. Are vous?)

And I’m sure you all know the answer to what should be, in any other time…

…“I don’t know what the attorney wants them to do – if he wants them to actually move the Basilica or if the Muslim students can find someplace where they don’t have to look at it,” he told Fox News.

…a purely rhetorical question.

A couple of Buddhas in Afghanistan probably have your real answer…

UPDATE: The more I thought about these fools, the more I realized they were making the cathedral sound like the Eye of Sauron. So I found them a little ditty to help them “get over it”.

In the interest of non-denominational relations and a lesson in christian forgiveness.

Well, here’s a shocker: Super Genius Jon Corzine is working hard to prove that his disastrous tenure as NJ Governor was no fluke

Corzine’s MF Global Enters Distress With 18% Yields

Debt traders pushed the bonds of MF Global Holdings Ltd. into distressed territory for the first time as the futures brokerage headed by former Goldman Sachs Group Inc. leader Jon Corzine struggles to transform itself into an investment bank.